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Try out lectures, course readings, and self-paced assignments from the Master of Science in Accountancy (iMSA) degree

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Stufe „Mittel“

Ca. 31 Stunden zum Abschließen

Empfohlen: 8 weeks of study, 6-8 hours/week...

Englisch

Untertitel: Englisch

Start working towards your degree

Try out lectures, course readings, and self-paced assignments from the Master of Science in Accountancy (iMSA) degree

100 % online

Beginnen Sie sofort und lernen Sie in Ihrem eigenen Tempo.

Flexible Fristen

Setzen Sie Fristen gemäß Ihrem Zeitplan zurück.

Stufe „Mittel“

Ca. 31 Stunden zum Abschließen

Empfohlen: 8 weeks of study, 6-8 hours/week...

Englisch

Untertitel: Englisch

Lehrplan - Was Sie in diesem Kurs lernen werden

Woche
1
1 Stunde zum Abschließen

Introduction to Course

In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course. ...
2 Videos (Gesamt 7 min), 4 Lektüren, 1 Quiz
2 Videos
About Prof Donohoe2m
4 Lektüren
Syllabus10m
About the Discussion Forums10m
Update Your Profile10m
Build a Learning Community with Social Media10m
1 praktische Übung
Orientation Quiz8m
3 Stunden zum Abschließen

Module 1 Partnership Formation

In this module, you will be introduced to partnerships. We will delve into the formation of partnerships along with the characteristics that differentiate this form of business from other U.S. entities. This module focuses on the eligibility of legal ‘persons’ to form a partnership and the nonrecognition provisions and holding periods that apply to the contribution of such capital. Exceptions to the nonrecognition rules will be highlighted along with additional elections and treatments available to partnership formation....
17 Videos (Gesamt 61 min), 2 Lektüren, 11 Quiz
17 Videos
Lesson 1.1.1 Partnerships4m
Lesson 1.1.2 Legal Framework2m
Lesson 1.1.3 Special Basis Concepts2m
Lesson 1.1.4 Other Issues4m
Lesson 1.2.1 Nonrecognition Provision: Concepts3m
Lesson 1.2.2 Nonrecognition Provision: Applications2m
Lesson 1.3.1 Basis Determination & Holding Period: Concepts4m
Lesson 1.3.2 Basis Determination & Holding Period: Applications8m
Lesson 1.4.1 Nonrecognition Exceptions: Concepts4m
Lesson 1.4.2 Nonrecognition Exceptions: Applications3m
Lesson 1.4.3 Other Issues1m
Lesson 1.5.1 Initial Costs4m
Lesson 1.5.2 Accounting Methods2m
Lesson 1.5.3 Tax Year3m
Lesson 1.5.4 Applications6m
Module 1 Wrap-Up46
2 Lektüren
Module 1 Overview and Resources10m
Module 1 Live Session Slides10m
11 praktische Übungen
Lesson 1.1.1 Knowledge Check8m
Lesson 1.1.2 Knowledge Check8m
Lesson 1.1.4 Knowledge Check8m
Lesson 1.2.1 Knowledge Check8m
Lesson 1.3.1 Knowledge Check8m
Lesson 1.4.1 Knowledge Check8m
Lesson 1.4.3 Knowledge Check8m
Lesson 1.5.1 Knowledge Check8m
Lesson 1.5.2 Knowledge Check8m
Lesson 1.5.3 Knowledge Check8m
Module 1 Quiz16m
Woche
2
2 Stunden zum Abschließen

Module 2 Partnership Operations

In this module, you will be introduced to the operations of a partnership. We will examine how the operations of a partnership are a conduit by which transactions “pass through” to the partners. The module focuses on how the partnership measures and allocates the income based on the partner’s distributive share in accordance with the appropriate means of reporting. Next, we will discuss the appropriate adjustments to the partner’s outside tax basis in relation to the income, loss, and liability claims of the partnership. Finally, we will discuss the loss and related party limitations imposed on the partnership....
13 Videos (Gesamt 58 min), 2 Lektüren, 6 Quiz
13 Videos
Lesson 2.1.1 Income Measurement & Reporting: Concepts4m
Lesson 2.1.2 Income Measurement & Reporting: Applications3m
Lesson 2.2.1 Partner’s Distributive Share: Concepts5m
Lesson 2.2.2 Partner’s Distributive Share: Applications3m
Lesson 2.3.1 Outside Basis Adjustments: Concepts5m
Lesson 2.3.2 Outside Basis Adjustments: Applications7m
Lesson 2.4 Partners' Deduction for Qualified Business Income9m
Lesson 2.5.1 Partner Loss Limitations: Concepts4m
Lesson 2.5.2 Partner Loss Limitations: Applications5m
Lesson 2.6.1 Related Transactions: Concepts2m
Lesson 2.6.2 Related Transactions: Applications3m
Module 2 Wrap-Up56
2 Lektüren
Module 2 Overview and Resources10m
Module 2 Live Session Slides10m
6 praktische Übungen
Lesson 2.1.1 Knowledge Check8m
Lesson 2.2.1 Knowledge Check8m
Lesson 2.3.1 Knowledge Check8m
Lesson 2.5.1 Knowledge Check8m
Lesson 2.6.1 Knowledge Check8m
Module 2 Quiz16m
Woche
3
3 Stunden zum Abschließen

Module 3 Partnership Distributions

In this module, you will be introduced to the tax treatments of partnership distributions. We will first determine what is a distribution and how it is different from a partner’s share of partnership earnings. Partnership distributions will be further classified into proportionate operating, proportionate liquidating, and disproportionate distributions. We will then discuss the nonrecognition principle of partnership distributions, loss limitations, and exceptions to these general rules....
18 Videos (Gesamt 76 min), 2 Lektüren, 8 Quiz
18 Videos
Lesson 3.1.1 Concepts I8m
Lesson 3.1.2 Applications I2m
Lesson 3.1.3 Concepts II3m
Lesson 3.1.4 Applications II7m
Lesson 3.2.1 Concepts I5m
Lesson 3.2.2 Applications I2m
Lesson 3.2.3 Concepts II2m
Lesson 3.2.4 Applications II2m
Lesson 3.2.5 Concepts III1m
Lesson 3.2.6 Applications III8m
Lesson 3.2.7 Concepts IV2m
Lesson 3.2.8 Applications IV11m
Lesson 3.2.9 Concepts V57
Lesson 3.2.10 Applications V6m
Lesson 3.3.1 Disproportionate Distributions: Concepts2m
Lesson 3.3.2 Disproportionate Distributions: Applications2m
Module 3 Wrap-Up1m
2 Lektüren
Module 3 Overview and Resources10m
Module 3 Live Session Slides10m
8 praktische Übungen
Lesson 3.1.1 Knowledge Check8m
Lesson 3.1.3 Knowledge Check8m
Lesson 3.2.1 Knowledge Check8m
Lesson 3.2.3 Knowledge Check8m
Lesson 3.2.5 Knowledge Check8m
Lesson 3.2.7 Knowledge Check8m
Lesson 3.3 Knowledge Check8m
Module 3 Quiz16m
Woche
4
2 Stunden zum Abschließen

Module 4 Partnership Sales and Terminations

In this module, you will be introduced to the tax consequences of selling and terminating a partnership interest. We will explore the tax consequences to the buyer and seller in a transaction to sell a partner’s interest. You will learn to differentiate between sales subject to capital and ordinary gain. Since the partner’s capital account and tax basis often differ at the point of sale, you will learn about the § 754 election, which allows the buyer to step up the inside basis in the partnership. Finally, we will discuss the implications of partnership termination. ...
13 Videos (Gesamt 39 min), 2 Lektüren, 6 Quiz
13 Videos
Introduction to Sale of Partnership Interest2m
Lesson 4.1.1 Seller Concepts2m
Lesson 4.1.2 Seller Applications4m
Lesson 4.1.3 Buyer Concepts1m
Lesson 4.1.4 Buyer Applications2m
Lesson 4.2.1 Special Basis Adjustment: Concepts6m
Lesson 4.2.2 Special Basis Adjustment: Applications3m
Lesson 4.3.1 Other Dispositions: Concepts4m
Lesson 4.3.2 Other Dispositions: Applications1m
Lesson 4.4.1 Partnership Termination: Concepts5m
Lesson 4.4.2 Partnership Termination: Applications1m
Module 4 Wrap-Up1m
2 Lektüren
Module 4 Overview and Resources10m
Module 4 Live Session Slides10m
6 praktische Übungen
Lesson 4.1.1 Knowledge Check8m
Lesson 4.1.3 Knowledge Check8m
Lesson 4.2.1 Knowledge Check8m
Lesson 4.3.1 Knowledge Check8m
Lesson 4.4.1 Knowledge Check8m
Module 4 Quiz12m
Woche
5
2 Stunden zum Abschließen

Module 5 Other Pass-Through Entities

In this module, we will examine the concepts of pass-through entities with an introduction to other pass-through business models. We will analyze limited liability companies (LLC), limited liability partnerships (LLP), family partnerships, and Subchapter S corporations (S corp). We will discuss the unincorporated nature of the LLC, which offers both the limited liability of a corporation and the tax implications of a partnership. Next, we will discuss LLP and family partnership. We will also explore the increased limitation to liability and eligibility requirements necessary. Finally, we will analyze the qualifications and procedures for a corporation to elect S corporation status....
10 Videos (Gesamt 30 min), 2 Lektüren, 7 Quiz
10 Videos
Limited Liability Companies5m
Limited Liability Partnerships2m
Family Partnerships2m
Lesson 5.4.1 Background4m
Lesson 5.4.2 Qualifications2m
Lesson 5.4.3 Subchapter S Election2m
Lesson 5.4.4 Compliance Procedures1m
Lesson 5.4.5 Applications3m
Module 5 Wrap-Up1m
2 Lektüren
Module 5 Overview and Resources10m
Module 5 Live Session Slides10m
7 praktische Übungen
Lesson 5.1 Knowledge Check8m
Lesson 5.2 Knowledge Check8m
Lesson 5.3 Knowledge Check8m
Lesson 5.4.1 Knowledge Check8m
Lesson 5.4.2 Knowledge Check8m
Lesson 5.4.3 Knowledge Check8m
Module 5 Quiz16m
Woche
6
2 Stunden zum Abschließen

Module 6 S Corporation Operations

In this module, we will further examine the specifications of electing S corporation status. We will explore income measurement and allocation methods followed in passing through the earnings to the shareholders; including the differentiation between ordinary items and separately stated items. Next, we will discuss the calculation of the shareholder’s basis in the S corporation and how it is adjusted in accordance with company earnings. We will also explore loss limitations with respect to the shareholder’s tax basis and at-risk basis. Accordingly, you will be introduced to the implications of distributions from the company to the shareholder with special tax consequences. Finally, we will discuss the exceptions that subject the pass-through to entity level tax....
14 Videos (Gesamt 52 min), 2 Lektüren, 6 Quiz
14 Videos
Lesson 6.1.1 Income Measurement & Allocation: Concepts5m
Lesson 6.1.2 Income Measurement & Allocation: Applications5m
Lesson 6.2.1 Shareholder Basis Determination: Concepts3m
Lesson 6.2.2 Shareholder Basis Determination: Applications2m
Lesson 6.3.1 Shareholder Loss Limitations: Concepts5m
Lesson 6.3.2 Shareholder Loss Limitations: Applications4m
Lesson 6.4.1 Operating: Concepts6m
Lesson 6.4.2 Operating: Applications6m
Lesson 6.4.3 Liquidating: Concepts1m
Lesson 6.4.4 Liquidating: Applications2m
Lesson 6.5.1 Special Taxes4m
Lesson 6.5.2 Other Issues1m
Module 6 Wrap-Up57
2 Lektüren
Module 6 Overview and Resources10m
Module 6 Live Session Slides10m
6 praktische Übungen
Lesson 6.1.1 Knowledge Check8m
Lesson 6.2.1 Knowledge Check8m
Lesson 6.3.1 Knowledge Check8m
Lesson 6.4.1 Knowledge Check8m
Lesson 6.5.1 Knowledge Check8m
Module 6 Quiz18m
Woche
7
3 Stunden zum Abschließen

Module 7 Professional Tax Practice & Ethics

In this module, you will examine the ethical guidelines that encompass the professional tax practice. It will begin with a discussion of the mission and authority of the Internal Revenue Service (IRS), the enforcement agency overseeing the professional tax industry. Next, we will highlight the various penalties that can be assessed at the taxpayer level, both civil and criminal. Finally, you will be introduced to the ethical standards imposed upon tax advisors: Circular 230 and AICPA standards....
12 Videos (Gesamt 44 min), 2 Lektüren, 10 Quiz
12 Videos
Lesson 7.1.1 The IRS Mission3m
Lesson 7.1.2 Structure of the IRS3m
Lesson 7.1.3 Powers of the IRS2m
Lesson 7.1.4 Tax Return Audits6m
Lesson 7.1.5 The Tax Gap1m
Lesson 7.2.1 Civil Penalties6m
Lesson 7.2.2 Criminal Penalties3m
Lesson 7.3.1 Circular 2306m
Lesson 7.3.2 AICPA Standards4m
Lesson 7.3.3 Tax Adviser Penalties2m
Module 7 Wrap-Up1m
2 Lektüren
Module 7 Overview and Resources10m
Module 7 Live Session Slides10m
10 praktische Übungen
Lesson 7.1.1 Knowledge Check8m
Lesson 7.1.2 Knowledge Check8m
Lesson 7.1.3 Knowledge Check8m
Lesson 7.1.4 Knowledge Check8m
Lesson 7.2.1 Knowledge Check8m
Lesson 7.2.2 Knowledge Check8m
Lesson 7.3.1 Knowledge Check8m
Lesson 7.3.2 Knowledge Check8m
Lesson 7.3.3 Knowledge Check8m
Module 7 Quiz16m
Woche
8
1 Stunde zum Abschließen

Module 8 Strategic Organizational Form Choice

In this module, you will apply the concepts learned from previous lessons on corporate and pass-through entities to designed scenarios. You will analyze organizational form dilemma and four organizational form choices. The module will conclude with a summary and recommendation....
7 Videos (Gesamt 19 min), 3 Lektüren, 1 Quiz
7 Videos
Organizational Form Dilemma3m
C Corporation3m
Partnership or LLC4m
S Corporation2m
Summary & Recommendation2m
Module 8 Wrap-Up1m
3 Lektüren
Module 8 Overview and Resources10m
Course Wrap-Up10m
Module 8 Live Session Slides10m
1 praktische Übung
Module 8 Quiz20m

Dozent

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Michael P Donohoe, PhD, CPA

Associate Professor of Accountancy and PwC Faculty Fellow
Department of Accountancy, Gies College of Business

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The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs. ...

Über die Spezialisierung U.S. Federal Taxation

This Specialization introduces the U.S. federal tax system via conceptual and applied material. Learners will be able to apply basic principles to settings involving individuals, corporations, and other business entities, complete key components of major, individual U.S. federal tax returns, and identify tax-related strategies and implications of structuring transactions and organizations....
U.S. Federal Taxation

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